Funds from the proposed green sukuk will be used to refinance SMS’s existing financing facilities, and to partially repay shareholders’ advances used to build its 50 MWac large-scale photovoltaic solar farm in Rembau, Negeri Sembilan.
KUALA LUMPUR: Solar Management (Seremban) Sdn Bhd’s (SMS) proposed RM260mil Asean Green SRI Sukuk has been accorded a Tier-1 environmental benefit (Tier-1 EB) rating by RAM Sustainability.
In a statement on Thursday, it said the proposed green sukuk also carries credit ratings assigned by RAM Rating Services.
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